Market analysis May 19 - May 25 : ZENZO posts a 69% rally.
Between May 19 - May 25, ZENZO has been mostly bullish as its price has been in the rising mode. The price swings of ZNZ pointed to the presence of high volatility. The price action on the coin's market translated to the growth of market capitalization. The price action of the crypto coin last week took place on the back of increased trading volume.
The volatility of ZENZO was at 41.79% on average, which caused noticeable price fluctuations. The peak of the asset's volatility fell on May 19 after it went all the way to 41.79%. The volatility of the coin fell to its lowest on May 25 when it slid to 0.04%. The high volatility of 41.79% points to the possibility of unpredictable and violent price action.
On May 19, the first trading session of the reviewed time period, the market participants saw ZNZ moving down by 22%. On May 20, the price of the coin has shifted by 2% from the daily open on the back of a good trading volume. During the next trading day, the rate of change in the price of ZENZO stood at 42% having reached the low at $0.002 and the high at $0.006 as the advantage remained on the side of buyers. ZNZ ’s performance during May 22 was the following: the price declined by 12% in conjunction with the acceptable trading volume. ZENZO finalized the trading day of May 23 at $0.005 after opening it at $0.005, though the price broke through that corridor to hit the 24H high at $0.0055 and the 24H low at $0.0054. The activity on the crypto coin's market on May 24 resulted in the asset being traded between $0.005, the open of the day, and $0.007, the close of the day; at some point, the price spiked to the daily high at $0.007 and briefly dropped to the daily low at $0.005. As for the occurrences on May 25, the price of the coin bottomed at $0.002 and peaked at $0.007, while its daily range formed between $0.007 and $0.006. The asset posted the weekly low at $0.001, while the top of the weekly trading session was registered at $0.007. ZENZO bounced 69% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.003.
The past 7 days were marked by a change in average daily trading volume from $461 on May 19 to $488 on May 25. During the week before May 19, the trading volume of ZNZ flowed from $0.37 to $164. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 793%, and the 69% price shift.
The total market capitalization of ZENZO during the past 7-day oscillated between $136 801, the starting point that was established on May 19, and $226 948 on May 25, the end date of the reviewed period. Percentage-wise, the market capitalization of ZNZ has shifted by 66% in the past week. The said 66% percentage change in market capitalization of the coin was accompanied by the 69% fluctuation in the price of the underlying asset. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $119 853 on May 12 and $87 106 on May 18, which translates to a 27% change.